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Roundup: JDS Uniphase, SCI, 3DO, Macromedia hurdle forecasts

JDS Uniphase (Nasdaq: JDSU) exceeded the consensus estimate in the second quarter.

After market close Wednesday, the vendor of optical networking hardware reported fiscal second quarter of earnings of $66 million, or 18 cents per share, not counting amortization and one-time charges. First Call's survey of 34 analysts predicted a profit of 15 cents per share for the quarter ended Dec. 31.

Including writedowns of purchased intangibles and merger-related charges, JDS Uniphase lost $131 million, or 38 cents per share.

Second quarter sales rose to $282 million, a 119 percent improvement from $129 million in the year-ago period, when JDS earned $27 million, or 8 cents per share, on a pro forma basis. Revenue in the second quarter represented a 30 percent rise from $230 million in the previous period.

JDS Uniphase has been one of the hottest stocks in U.S. markets in recent months, as the company continues a string of acquisitions. Shares of JDS Uniphase dropped 15 1/4 to 216 3/4 in Wednesday's regular trading prior to the quarterly report.

All 29 analysts polled by Zack's Investment Research maintain some sort of "buy" rating on JDS Uniphase.

Other companies reporting quarterly results:

  • SCI Systems
  • (NYSE: SCI) reported estimate-topping second quarter results and announced a stock split.

    The contract electronics manufacturer posted fiscal second quarter net income of $49.3 million, or 68 cents per share. First Call's survey of 22 analysts predicted a profit of 66 cents per share for the quarter ended Dec. 26.

    Also Wednesday, the company announced a 2-for-1 stock split, payable Feb. 18 to shareholders of Feb. 4 record.

    Second quarter revenue rose to $2.16 billion from $1.74 billion in the year ago period, when SCI earned $32.7 million, or 24 cents per diluted share.

    Not counting writedowns of goodwill, SCI Systems earned 36 cents per share in the second quarter.

    "Favorable new business development results, strategic global capacity expansions, successful integration of recent acquisitions and senior management additions are all contributing to the Company's success," said A. Eugene Sapp, SCI's president and CEO.

  • Exodus Communications
  • (Nasdaq: EXDS) posted a narrower-than-forecast fourth-quarter operating loss as sales nearly quintupled.

    The provider of Web hosting services said that for the period ended Dec. 31, it had a loss of $44 million, or 25 cents a share, compared with a loss of $21.9 million, or 14 cents, a year ago, excluding amortization and acquisition-related charges. That bested the average estimate of a loss of 27 cents a share, according to First Call.

    Including special items, Exodus had a fourth-quarter loss of $52.9 million, or 30 cents a share.

    Fourth quarter sales rose to $101.4 million from $21.1 million a year ago, and were up 49 percent from third-quarter sales of $68 million.

    For the year, Exodus reported a loss of $130.3 million, or 78 cents a share, compared with a loss of $69.3 million, or 55 cents, in 1998. Revenue rose to $242.1 million from $52.7 million.

  • The 3DO Co.
  • (Nasdaq: THDO) surpassed analyst estimates in the third quarter.

    3DO posted fiscal third quarter earnings of $1.4 million, or 3 cents per share. First Call consensus predicted a profit of a penny per share for the game software vendor.

    Revenue increased to $41.2 million, a 300 percent gain from $10.3 million in the year ago period, when 3DO lost $5.7 million, or 22 cents per share.

  • Macromedia
  • (Nasdaq: MACR) beat First Call's estimate in the third quarter.

    The vendor of graphics, publishing and multimedia creation software reported fiscal third quarter earnings of $8.24 million, or 15 cents per share, not counting non-recurring expenses. First Call's survey of 10 analysts predicted a profit of 12 cents per share for the quarter ended Dec. 31.

    Third quarter revenue of $65.5 million represented a 69 percent gain from $38.83 million in the year earlier period, when Macromedia earned $2.08 million, or 4 cents per share.

    "The demand and acceptance of products like Dreamweaver, Flash and Fireworks continue to drive our growth as our customers create a next generation Web experience," said Rob Burgess, chairman and CEO of Macromedia.

    Downloads of Macromedia's Flash and Shockwave Web animation players rose to 93 million, from 61 million in the second quarter. Macromedia's website saw 4.7 million visitors in December, compared to 3.2 million in September.>